Neoga, IL—62447
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Neoga, IL
As of Nov '25, the median home price in Neoga, IL is $166,000, with a year-over-year change of -1.4%. This indicates that home prices in Neoga, IL are decreasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $166,000 | -1.4% |
| Single Family | $166,000 | -0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $137,000 | 0.0% |
3 Bed | $185,000 | 0.5% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Neoga, IL
As of July '25, Rentcast reports the average rent in Neoga, IL is $379, with a year-over-year rent change of 11.8%. Per bedroom, the median rent as of July '25 in Neoga, IL is 2-bedrooms: $379. The most common rental property sizes in Neoga, IL are 2-bedroom and 3-bedroom, accounting for 36.9% and 35.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $379 | $379 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $379 | $379 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Neoga, IL
As of Nov '25, Realtor.com reports that the median days on market for a home in Neoga, IL is 86. This is a increase of 18.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 100.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $185,000 | 33.0% |
Listing Count | 4 | -51.0% |
| Listings as % of Homes | 0.7% | -51.0% |
Days on Market | 86 | 18.0% |
Demographics — Neoga, IL
As of the latest ACS Survey released in 2023, Neoga, IL has a population of 3,200, which has decreased by -11.6% over the past 5 years. Neoga, IL is a moderately popular place for families, as children make up 23.7% of the population. The area has a poorly educated workforce, with 22.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,200 | -11.6% |
% Under 18 | 23.7% | 8.2% |
% Seniors | 22.3% | 13.8% |
% WFH | 8.0% | 73.9% |
% w/ College Degree | 22.6% | 11.3% |
As of the latest ACS Survey released in 2023, Neoga, IL is a predominantly white area, with 94.5% of the population identifying as white. The white population has shrunk by 1.3% in the last 5 years. The second most common race or ethnicity in Neoga, IL is black, making up 0.1% of the population. Foreign-born residents account for 0.1% of the population in Neoga, IL, and this percentage has decreased by 83.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.5% | -1.3% |
% Black | 0.1% | ∞% |
% Hispanic | 0.0% | -100.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.1% | -83.3% |
Mortgage and Risk — Neoga, IL
According to HUD data as of 2023, there were 29 mortgage originations in Neoga, IL, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 62.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Neoga, IL. Investor activity is low, as 0.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 29 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Rentals and Section 8 — Neoga, IL
Neoga, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 36 |
Total Units Section 8 | 0 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $680 |
| 2 Bedroom | $511 | $379 | $890 |
| 3 Bedroom | N/A | N/A | $1,070 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — Neoga, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.8 |
| Median Home Price | $166,000 |
| Median Household Income | $84,200 |